Redfin Names the Real Estate Neighborhoods To Watch In 2013

SEATTLE, Jan. 14, 2013 /PRNewswire/ -- Redfin (www.redfin.com), the technology-powered real estate broker, today announced a list of the hottest emerging neighborhoods and small cities for real estate in 16 cities across the country. The ranking was based on input from Redfin real estate agents and analysis of current data in the number of homes for sale, sales volume, home prices, and sales to list price ratios. Eight of the top 10 were in California.

San Francisco's The Mission; one of Redfin's Real Estate Neighborhoods to Watch in 2013. (PRNewsFoto/Redfin Corporation) (PRNewsFoto/REDFIN CORPORATION)

Most analysts now agree that 2012 was the bottom for the housing market, and 2013 is likely to usher in further gains in both home prices and sales. This analysis identifies areas on the upswing that have not yet peaked, where there is still good value and plenty opportunity for growth.

"The housing market may be recovering nationwide, but the reality on the ground is sometimes more complicated than that," said Redfin CEO Glenn Kelman. "For 16 markets across the country, Redfin's local real estate agents collaborated with our analytics team to identify the neighborhoods where we expect prices to rise the most this year, based on activity from about 10,000 active homebuyers, and data from more than 130,000 listings. The results surprised us: the hottest neighborhoods aren't the well-known bastions of privilege. They're once-gritty urban areas and far-flung suburbs with school districts on the rise. This is the surest sign that the recovery is broadening, and that home-buyers are venturing out to once-marginal areas hit hard when the bubble burst."

Following are the top 10 hottest neighborhoods across the U.S., comparing December 2011 data with December 2012. Full post with photos and agent insights: http://blog.redfin.com/?p=10410.

Market

Neighborhood / City

Inventory

Sales Volume

Median Sales Price

Sale-to-List Price Increase

Los Angeles

Highland Park

-48.0%

72.7%

31.2%

3.3%

San Diego

Mira Mesa

-69.0%

48.2%

20.5%

2.9%

Los Angeles

Faircrest Heights

-62.7%

16.7%

28.9%

3.4%

Los Angeles

Eagle Rock

-53.7%

43.8%

10.6%

11.0%

SF East Bay

Livermore

-71.3%

13.2%

19.5%

3.6%

SF Silicon Valley

Willow Glen

-59.8%

9.1%

31.6%

3.2%

Los Angeles

Glassell Park

-63.5%

30.8%

17.1%

2.1%

Chicago

Logan Square

-10.3%

93.8%

19.6%

18.2%

SF Peninsula

The Mission

-28.6%

16.7%

79.8%

6.1%

Seattle

North Maple Leaf

-44.4%

15.4%

22.2%

3.5%

The top three areas for each market studied:

Atlanta

Denver

Sacramento

Roswell

Uptown

Folsom

Smyrna

Baker

Granite Bay

Suwanee

Montclair

El Dorado Hills

Austin

Los Angeles

San Diego

Rosedale

Highland Park

Mira Mesa

Crestview

Faircrest Heights

San Marcos

Zilker

Eagle Rock

Eastlake

Boston

Philadelphia

East Bay / Silicon Valley

Somerville

Phoenixville

Livermore

Medford

Brewerytown

Willow Glen

Waltham

West Mount Airy

East Dublin

Chicago

Phoenix

San Francisco Peninsula

Logan Square

Windsor Square

The Mission

East Village/Noble Square

Gilbert

Foster City

Fulton Market

Old Town Scottsdale

Belmont

Dallas

Portland

Seattle

Colleyville

Sylvan-West Haven

North Maple Leaf

Lake Highlands

Stoller School, Beaverton

West Bellevue

Castle Hills

Kenton

Bothell

Washington DC Area

Pimmit Hills

Petworth

Fallsmead

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 19 U.S. markets and has closed more than $5 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider. Follow us on blog.redfin.com, on Twitter @redfin, and Facebook.com/Redfin.